Kaitori Okoku Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥16.73 per share, a decrease of 58.4% from ¥40.22 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥29.4 million, a decline of 58.4% from ¥70.6 million in the year-earlier period.

The normalized profit margin declined to 2.2% from 5.3% in the year-earlier period.

Total revenue climbed on an annual basis to ¥1.36 billion from ¥1.32 billion, and total operating expenses increased 8.8% year over year to ¥1.31 billion from ¥1.21 billion.

Reported net income declined 61.5% from the prior-year period to ¥25.0 million, or ¥14.24 per share, from ¥65.0 million, or ¥37.02 per share.

As of July 15, US$1 was equivalent to ¥101.70.